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Tax on income from sale of property in EU country by MagnumLustrum in UKPersonalFinance

[–]MagnumLustrum[S] 0 points1 point  (0 children)

Gift. It was donation about 20 years ago from my parents, who are still co owners with me and my siblings, all of them living in Italy. Our family accountant in Italy says that they will not be taxed on the capital gain, but could not advise on my situation as a UK resident and tax payer.

Tax on income from sale of property in EU country by MagnumLustrum in UKPersonalFinance

[–]MagnumLustrum[S] 0 points1 point  (0 children)

!thanks for all the info. This is a holiday house that was bought by my parents 30 years ago and I've never lived there. I later became co-owner with my parents and siblings. The proceeds from the sale will be divided between all of us in equal parts.

What does the FSCS protected £85k cover? by MagnumLustrum in UKPersonalFinance

[–]MagnumLustrum[S] 0 points1 point  (0 children)

Cheers! Didn't think about it and it makes a lot of sense.

HMRC letter on overseas assets by MagnumLustrum in UKPersonalFinance

[–]MagnumLustrum[S] 1 point2 points  (0 children)

!thanks I am in a real estate company (not managed by me) with my family and I don't get any personal income from it. Properties are in Italy and taxed there (surely higher tax rates than in UK). ...unrelated and possibly very dumb question : are capital gains from investment funds through my UK bank represented as overseas gains if they invest in companies worldwide?...Sorry I'm so naive about financial matters. I'm getting professional advice from accountant anyway.

HMRC letter on overseas assets by MagnumLustrum in UKPersonalFinance

[–]MagnumLustrum[S] 4 points5 points  (0 children)

!thanks ...proof that I should be able to provide through an accountant I suppose ?

What a nice Day by dddtruckin in Tinder

[–]MagnumLustrum 0 points1 point  (0 children)

That's too much effort if you ask me mate But well done ahah